ACWA Power has acquired ENGIE's power generation and water desalination assets in Bahrain and Kuwait for $693 million, enhancing its capacity to address regional resource demands.

Overview of the Target

King & Spalding has recently advised ACWA Power in its acquisition of power generation and water desalination assets from ENGIE. This strategic transaction, valued at approximately $693 million, enhances ACWA Power's portfolio in the Middle East and reflects its ongoing commitment to sustainable energy and water resources in regions facing significant developmental needs.

ENGIE, a leading French utility developer, has been seeking to streamline its operations by divesting non-core assets, making this transaction beneficial for both parties. ACWA Power aims to leverage these assets to increase its operational capacity and market presence in Bahrain and Kuwait, where water scarcity and energy demand are pressing issues.

Industry Overview in Bahrain and Kuwait

Bahrain and Kuwait are positioned within a rapidly evolving energy and water industry. Bahrain, with its unique geographic challenges, is reliant on imports for a significant portion of its water supply. This makes the water desalination secto